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Gold and silver prices fall

Gold and silver prices today: Gold and silver prices have decreased on Sunday. The price of gold has declined by Rs 200, which has given some relief to investors and customers. However, silver prices still remain high. Let’s know today due to the latest rate of gold and silver across the country and behind it.

On Sunday, September 14, gold prices have seen a decline. The price of 22 carat gold in the country is around Rs 1,01,900 and 24 carat gold is around Rs 1,11,000 per 10 grams. In Mumbai, 24 carat gold is available at Rs 1,11,170 per 10 grams and 22 carat gold at Rs 1,01,900 per 10 grams. At the same time, the price of silver is Rs 1,32,900 per kg.

Gold rates in other cities

Today, gold prices in various cities are as follows:

Silver prices rise

While gold prices have declined slightly, silver prices are continuously increasing. According to a report by broker firm Motilal Oswal Financial Services (MOFSL), “Silver can reach Rs 1.5 lakh per kg in the next 12 months.” So far this year, silver has given about 37% returns on MCX, which is more than the stock market and other investment options.

Due to fluctuations in gold prices

Gold prices in India depend on many factors:

1. International Market Rates: Gold imports are mainly from abroad, so India directly affects the fluctuations in foreign markets.
2. Rupee-Dollar Exchange Rate: When the rupee is weak against the dollar, gold prices rise.
3. Government tax and import duty: The taxes of the central and state governments also affect the retail price of gold.
4. demand and supply: Prices go up due to increase in demand for gold during marriage and festivals.